Fraugster and Yuno partner to further expand into Latin America
By Edlyn Cardoza
Next-gen payment orchestration platform, Yuno partners with AI payment intelligence expert, Fraugster to provide online merchants easy access to a range of fraud prevention, compliance, and revenue uplift solutions via a single API. Companies of all sizes across Latin America continuously face challenges in managing multiple payment methods and fraud detection tools for accepting online payments leading to fragmentation, complexity, and high costs.
Julián Núñez, the co-founder at Yuno, says, “Accepting and optimizing online payments shouldn’t be a pain point for merchants. Together with Fraugster we are building the ultimate solution that will enable merchants to make online checkout quick, easy and secure so that they can focus on their core business.”
According to the latest data from the Merchant Risk Council (MRC), Latin American merchants experience the highest average chargeback rates (3.8% vs. 2.6% in Europe) and the highest order rejection rates (6.9% vs. 2.8% EU) of any global region. This partnership addresses these challenges head-on to help businesses reduce fraud losses and the total cost of managing fraud. Fraugster strengthens Yuno’s offering by applying advanced AI trained on global payment data to make more accurate decisions to boost approval rates. Innovations in machine learning and artificial intelligence (AI) also allow Yuno merchants to go live immediately without historical data, a game changer in an industry where long integration cycles delay speed to value.
Christian Mangold, Fraugster’s CEO, says, “We are delighted to be partnering with Yuno as we expand further into the LatAm region. We now have an additional partner who shares our belief that the industry needs to unite against fraud, and provide more flexible and scalable solutions to customers. Our solution enables our customers to simplify operations by picking from multiple solutions, including chargeback liability coverage, via one integration.”
Recently, IBS Intelligence reported that Fraugster had been selected by epay to pilot AI payment fraud prevention services. epay is a full-service payment provider and the digital payments processing business segment of the global financial technology solutions and payments provider Euronet Worldwide, Inc.
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